CNBC's Contessa Brewer reports on news that Wynn is looking to selling Encore Boston Harbor. The company recently faced a $35 million fine from the Boston gaming commission after allegations that the company ignored numerous reports of sexual misconduct by former CEO Steve Wynn.

After holding discussions to sell its $2.6 billion Massachusetts project to MGM Resorts International -- talks that sparked an outcry from local officials -- the company has decided to keep the property. When it opens next month, Encore Boston Harbor will be the flashiest casino on the East Coast. The Wynn style -- with its floral sculptures, modern art and emphasis on high-end dining -- hasn’t always traveled well.

Active gamblers at Encore Boston Harbor in Everett will be able to get complimentary alcoholic beverages from the time bars close at 2 a.m. until 4 a.m. after the Gaming Commission voted Wednesday to approve the casino's later last call.

MGM Resorts International says it will no longer pursue buying Encore Boston Harbor from Wynn Resorts. MGM (MGM) said Tuesday that stakeholders have concerns. The $2.6 billion casino is scheduled to open next month in Everett, Massachusetts.

"After careful consideration we have agreed to cease discussions with MGM Resorts," Las Vegas-based Wynn said in a statement, adding it is still committed to opening and operating the 671-room casino. The two companies announced last week that Wynn Resorts was in talks to sell its nearly finished $2.6 billion (2.04 billion pounds) Encore Boston Harbor casino in Everett, Massachusetts, to rival MGM. MGM in response said in a statement the company would not continue talks with Wynn Resorts regarding the Massachusetts casino.

Wynn Resorts Ltd. and MGM Resorts International say conversations regarding the sale of Wynn’s $2.6 billion Encore Boston Harbor resort are over. Wynn (NASDAQ: WYNN) and MGM (NYSE: MGM) had acknowledged their preliminary conversations regarding a potential sale in a statement late Friday afternoon. MGM won a Massachusetts gambling license in 2014 and operates a $1 billion Springfield casino, which opened in August 2018.

Las Vegas-based Wynn received its Massachusetts license in 2013, allowing it to go ahead with building the 671-room Encore Boston Harbor in Everett, Massachusetts. A deal would be complicated for MGM, which has a casino in Springfield, as according to the state's gaming commission Massachusetts forbids companies from holding more than one casino license in the state. The Massachusetts Gaming Commission had in April fined Wynn Resorts $35 million for not disclosing sexual misconduct allegations against founder and former chief executive officer Steve Wynn, but allowed the casino operator to keep its license.

Las Vegas-based Wynn received its Massachusetts license in 2013, allowing it to go ahead with building the 671-room Encore Boston Harbor in Everett, Massachusetts. A deal would be complicated for MGM, which has a casino in Springfield, as according to the state's gaming commission Massachusetts forbids companies from holding more than one casino license in the state. The Massachusetts Gaming Commission had in April fined Wynn Resorts $35 million for not disclosing sexual misconduct allegations against founder and former chief executive officer Steve Wynn, but allowed the casino operator to keep its license.

Wynn Resorts and MGM Resorts International said in a joint statement they've engaged in conversations about the potential sale of Encore Boston Harbor. This comes as Wynn is about to open the $2.6 billion Everett, Massachusetts, casino. The companies say the talks won't delay the Everett opening scheduled for next month.

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With just 37 days to go before a scheduled opening, Wynn Resorts Ltd. (Nasdaq: WYNN) is considering selling its $2.6 billion Encore Boston Harbor resort in Everett to fellow Las Vegas-based gambling empire MGM Resorts International (NYSE: MGM). “Over the past several weeks, we have engaged in conversations around the potential sale of Encore Boston Harbor,” the companies said in a joint statement. As of the close of markets Friday, shares of Wynn fell 4.6 percent, while MGM stock was down 2.4 percent.